![](https://image-cdn.essentiallysports.com/wp-content/uploads/image-1920x1080-76-16.png?width=600)
![](https://image-cdn.essentiallysports.com/wp-content/uploads/image-1920x1080-76-16.png?width=600)
The organizers of the Olympic and Paralympic Games in Paris have recently announced a financial milestone, with a surplus of nearly $28.34 million. Nevertheless, the Paris Olympics were not able to achieve success even close to the record income of the 1984 Olympics—earning close to one-tenth.
This sharp difference makes one wonder how Los Angeles 1984 managed to become such a huge gold mine and, later, why the following Games had not been able to follow in its track. The question is clear: What factors impelled LA 1984 to be this outstanding model, and where are the modern Games that have not replicated their success?
Paris 2024: A victory, yet far from the pinnacle
ADVERTISEMENT
Article continues below this ad
The Paris Olympics organizers reported that the profit will be spent on the development of sports in France. According to the financial advisor of the organizing committee, Fabrice Lacroix said that the French Olympic Committee will receive 20% of the profit, the IOC will get 20%, and 60% will be spent on the promotion and development of sports in France. The remaining $9.4 million will be saved for the National Paralympic Committee.
The Organizing Committee for the Olympic and Paralympic Games (COJOP) President Tony Estanguet proudly said, “This is a great source of satisfaction and one of the proudest achievements of Paris 2024,” given the fact that achieving a balanced budget was difficult one week before the start of the Games. How did they manage to earn this much revenue? According to the organizers, the popularity of the Games gave such good financial results. A huge amount is collected from the ticket sale. How much? A total of $1.565 billion—9.5 million tickets for Olympic games and 2.5 million for Paralympic games—were sold. The question is still intact: how was the 1984 Los Angeles Olympic Games revenue so high?
The success of the Los Angeles 1984 Olympics was primarily due to innovative financial strategies spearheaded by Peter Ueberroth. Unlike previous Olympics that incurred significant losses, Ueberroth’s team relied heavily on corporate sponsorships. Corporate sponsors, primarily multinational corporations with headquarters in the United States, were permitted to use Olympic symbols on their goods, which were then promoted as the ‘
official’ Olympic merchandise. The cost of a spot on the torch relay squad was $3,000 per kilometer.![](https://image-cdn.essentiallysports.com/wp-content/uploads/Paris-Olympic-Logo.jpeg?width=150&blur=15)
America has a record of 3095 Olympic medals
ADVERTISEMENT
Article continues below this ad
The United States of America leads in the medal tally over the years; out of 3095 Olympic medals, 2765 medals (1,105 are gold) are at the Summer Olympic Games, and 330 (114 are gold) are at the Winter Olympic Games, making America the most prolific medal-winning country in the Olympics history. How is the growth of medals so far?
When the Olympic Games started in 1896 in Athens, Greece (Summer Olympics), the US won 20 medals—finishing first in the gold medal count—and Greece won a total of 47 medals (10 gold). Since then, the US has been the top ranker in most of the Summer Olympics (19 times), followed by the Soviet Union (6 times). Though it could not perform well in the Winter Olympic Games, it was ranked only once in 1932. What about 1984 Los Angeles? Again, America topped the tally—174 total medals with 83 gold, and the second country was way behind. Romania won only 53 medals, out of which 20 were gold. Have you ever wondered which sportsperson won the maximum medal?
The record of the maximum number of Olympic medals also goes to American athletes, like the total medal count of any country. American swimmer Michael Phelps holds first rank with 28 medals, out of which 23 are gold. Do you know the facts? America had the most athletes in the 2024 Paris Olympics, with 593 athletes. It shows that America tops in almost all areas when it comes to the Olympic Games. The next Olympic Games are scheduled to be held in 2028. Who will host the upcoming 2028 Summer Olympics?
ADVERTISEMENT
Article continues below this ad
Yet again, Los Angeles will have the opportunity to host the Summer Olympics. What about the budget and overall expenses? The Games are expected to generate around $2.5 billion through sponsorships, and nearly $2 billion can be earned through ticket sales. The final operating budget for the 2028 LA Olympic Games is $6.8 billion dollars. It is to be seen how LA will make a profit this time. Will it surpass the previous record? Only time will tell.
Have something to say?
Let the world know your perspective.
Debate
Is the Paris 2024 surplus a true victory, or just a shadow of LA 1984's success?
What’s your perspective on:
Is the Paris 2024 surplus a true victory, or just a shadow of LA 1984's success?
Have an interesting take?